Opinion certainty 3/5 debate potential 3/5

Gutwein: DTC Has Not Figured Out How to Scale Post-Adpocalypse

Victor Gutwein · #109 Modern Picnic: Surviving the Adpocalypse · Mar 4, 2025 · at 18:23

Investor Victor Gutwein explains to Modern Picnic founder Allie Kamenetsky why he is passing, pointing to systemic customer acquisition headwinds across the DTC landscape.

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“I think that overall DTC as an industry has not figured out how to scale like the new channels now that they can't spend VC dollars on Facebook and Google spend.”

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More from Victor Gutwein

Opinion
Gutwein: Modern Picnic Is Too Niche to Become a Billion-Dollar Brand
“But I also worry about the long, like the long plan for market size, just because this feels more niche than what I've seen from other brands that have gotten to that kind of billion dollar mark. I think the archetypes, I think are a little too narrow for me t…”
Victor Gutwein Mar 4, 2025 ▶ 19:01 #109 Modern Picnic: Surviving the Adpocalypse
Prediction Open · timeframe Mar 2028
Gutwein: Modern Picnic will sell for $50 million in two to three years
“Two or three years, she sells this for fifty million to, and then she's on to her next thing.”
Victor Gutwein Mar 4, 2025 ▶ 25:26 #109 Modern Picnic: Surviving the Adpocalypse
Disclosure
Victor Gutwein passes on The Pitch citing lack of unicorn comps
“As a venture capitalist, I don't really get excited about the potential for the more ad and subscription based revenue streams because I just haven't seen a lot of comps that have done really well. As far as, like, unicorn potential, which is, like, really whi…”
Victor Gutwein Mar 4, 2025 ▶ 39:25 #101 Josh Pitches The Pitch
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